INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Find data on what your target market segment thinks and shift your business to meet their needs or wants
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Only look for data that supports your initial idea
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Gather data on what your competitors are doing and create a competitive advantage to stay relevant in the market
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Collect data from a variety of sources and perspectives
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Detailed explanation-1: -This information can help inform your positioning in the market, determine which products and services to offer and what target audience to focus on.
Detailed explanation-2: -Four common types of market research techniques include surveys, interviews, focus groups, and customer observation.
Detailed explanation-3: -The first step in the marketing research process is defining the problem or the question your research is trying to answer, followed by developing a research plan to answer that question, collecting and analyzing the data, and then producing a report.
Detailed explanation-4: -The correct answer is National publications. Primary data is a type of information that is gathered by researchers directly from primary sources using methods including tests, questionnaires, and interviews.